Stocks, Bond Yields Tumble After CDC Confirms First Person-To-Person Virus Spread In US

Well that changes things...

The Centers for Disease Control and Prevention and Illinois public health officials confirmed Thursday the nation’s first person-to-person transmission of the coronavirus.

The new patient is the spouse of the Chicago woman who brought the infection back from Wuhan, China, the epicenter of the outbreak, CDC officials said during a press briefing.

Equity markets, desperate to believe that this is contained... are catching on...

And 30Y Yields are about to break to a 1 handle...

It would appear that WHO has no choice but to declare emergency now.

“These developments in terms of the evolution of the outbreak and further development of transmission, these are of grave concern and has spurred countries into action,” Dr. Mike Ryan, executive director of the WHO’s health emergencies program said.

“What we know at this stage, this is still obviously a very active outbreak and information is being updated and changing by the hour.”

As a reminder, in 2003 there was NO human-to-human transmission of SARS in the US.

Developing...